The role of trade as a tool for development was the focus of recent discussions among members. Director-General Okonjo-Iweala emphasized the importance of adapting to the rapidly changing world, stating, “This retreat offers a unique opportunity to begin to think differently and use this Organization to get results.”
Okonjo-Iweala highlighted that while many developing economies have leveraged trade to advance their economy and development, not all have reaped the benefits. She questioned how trade could be better utilized to serve those who have not yet benefited: “Many developing economies have used trade successfully as a tool to advance their economy and development. But not everyone benefited from this. How can we better use trade to advance the interests of those who have not benefited?”
Ambassador Petter Ølberg of Norway, chair of the General Council, reiterated the significant role trade plays in promoting development. He stated: “Let's ensure that trade continues to drive development by delivering tangible results, particularly for the most vulnerable economies.”
In conclusion, takeaways from the retreat and suggestions from Ambassador Ølberg will be shared with members shortly.